Rupee drops 24 paise; trades at 53.74 to the dollar

The rupee on Monday fell by 24 paise to 53.74 in early trade, continuing its downward march for the fourth straight session at the Interbank Foreign Exchange, due to continued dollar demand from importers.

Forex dealers said a lower opening at the domestic equity market also put pressure on the rupee.

The domestic currency had lost 28 paise to end at an over one-week low of 53.

PTI